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United States Announces $94 Billion of Global Public Funding To Accelerate Clean Energy Worldwide

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United States Announces $94 Billion of Global Public Funding To Accelerate Clean Energy Worldwide

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  • Announcement made at first-ever Global Clean Energy Action Forum
  • Forum comprised 34 nations and nearly 400 CEOs
  • “Investing in innovation anywhere speeds deployment and increases affordability of clean energy everywhere.”

The United States concluded the first-ever Global Clean Energy Action Forum with an incredible array of international announcements to accelerate the equitable transition to a cleaner and more secure energy future. U.S. Secretary of Energy Jennifer M. Granholm chaired the inaugural event which convened thousands of clean energy leaders – government ministers, CEOs, innovators, civil society, young professionals. The event also convened the 13th Clean Energy Ministerial (CEM) and 7th Mission Innovation Ministerial (MI), two essential international platforms for collaboration on clean energy innovation and deployment.  The Global Clean Energy Action Forum concluded with the announcement that a dozen countries came together to surpass an international funding goal, committing $94 billion for clean energy demonstration projects.   

A recent report from the International Energy Agency found that to meet global climate goals, international leaders need to mobilize $90 billion in public funding for commercial-scale clean energy demonstration projects in the next four years, and President Biden challenged the nations to come to Pittsburgh to share their contributions towards this global goal. 

“Investing in innovation anywhere speeds deployment and increases affordability of clean energy everywhere,” said Secretary Granholm.  “The U.S. has been honored to host this year’s Global Clean Energy Action Forum and it has been amazing to be in Pittsburgh to witness the collaboration across the energy ecosystem – world leaders, industry, investors and advocates – for concrete plans to work together on major demonstration and innovation projects that will help deploy clean energy faster.” 

The three-day conference included mainstage events featuring Ukrainian Energy Minister German Galushchenko and Director General of the International Atomic Energy Agency Rafel Grossi, senior White House officials Special Presidential Envoy for Climate John Kerry, Director of the National Economic Council Brian Deese, newly appointed Senior Advisor to the President for Clean Energy Innovation and Implementation John Podesta, and Special Presidential Coordinator for Global Infrastructure and Energy Security Amos Hochstein, President of the AFL-CIO, Elizabeth ShulerGovernor Tom Wolf of Pennsylvania and Senator Joe Manchin (D-WV). 

See related article: DOE Corporate Partners Save $10.6 Billion in Energy Costs

Video source: U.S. Department of Energy / YouTube

The United States released several announcements at the Global Clean Energy Action Forum including: 

  • $94BN for Clean Energy Technology Demonstrations: Responding to President Biden’s challenge to mobilize $90BN in public funding by 2026 for demonstrating clean energy technologies, 16 countries delivered $94 billion to GCEAF exceeding and achieving this goal four years early. The IEA assessed this level of funding is needed to complete a portfolio of large-scale demonstration projects this decade to bring to market the technologies required to achieve net zero emissions by 2050. The United States is devoting $21.9 billion to clean energy demonstrations. Governments contributing to the Challenge included: Australia, Canada, European Commission, Finland, France, Germany, Japan, the Netherlands, Norway, Poland, the Republic of Korea, Singapore, Sweden, United Arab Emirates and the United Kingdom. 
     
  • Launch of the Zero-Emissions Government Fleet Declaration: Launched by the United States under the CEM’s Electric Vehicle Initiative, signatory governments committed to 100% zero-emission light-duty vehicle acquisitions of their government owned and operated fleet – and announced aspirations towards 100% zero-emission medium- and heavy-duty vehicle acquisitions – by no later than 2035. Australia, Canada, Germany, Israel, New Zealand, and Norway joined the declaration.
     
  • Department of Energy (DOE) Launches New Industrial Heat EarthShot: The Industrial Heat Shot™ seeks to dramatically reduce the cost, energy use, and carbon emissions associated with the heat used to make our everyday products. The new initiative will develop cost-competitive industrial heat decarbonization technologies with at least 85% lower greenhouse gas emissions by 2035.
     
  • Launch of DOE’s Regional Clean Hydrogen Hubs (H2Hubs) Program: DOE released the H2Hubs Funding Opportunity Announcement (FOA) to establish an $8B program to develop at least four H2Hubs that demonstrate the production, processing, delivery, storage, and end-use of clean hydrogen. The H2Hubs are a key pillar of DOE’s draft National Clean Hydrogen Strategy and Roadmap released at GCEAF.
     
  • The U.S. Sustainable Aviation Fuels Grand Challenge Roadmap: A collaborative effort between the U.S. Departments of Energy, Transportation, and Agriculture, the Grand Challenge is public-private effort to reduce cost, enhance sustainability, and expand production to achieve 3 billion gallons per year of domestic sustainable aviation fuel production.
     
  • Release of $4.9 billion for Carbon Management Programs: DOE announced nearly $4.9 billion in funding to bolster investments in the carbon management industry and significantly reduce carbon dioxide (CO2) emissions released into the atmosphere through power generation and industrial operations.

Source: DOE

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